Atalanta Sosnoff Capital LLC Has $64.98 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Atalanta Sosnoff Capital LLC boosted its stake in shares of ConocoPhillips (NYSE:COP) by 45.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 958,812 shares of the energy producer’s stock after purchasing an additional 299,730 shares during the period. ConocoPhillips accounts for about 1.5% of Atalanta Sosnoff Capital LLC’s investment portfolio, making the stock its 26th biggest holding. Atalanta Sosnoff Capital LLC owned 0.07% of ConocoPhillips worth $64,979,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Investors Asset Management of Georgia Inc. GA ADV lifted its position in shares of ConocoPhillips by 20.7% in the third quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 14,576 shares of the energy producer’s stock valued at $988,000 after buying an additional 2,500 shares during the last quarter. Greylin Investment Mangement Inc. lifted its position in shares of ConocoPhillips by 29.0% in the third quarter. Greylin Investment Mangement Inc. now owns 122,211 shares of the energy producer’s stock valued at $8,282,000 after buying an additional 27,496 shares during the last quarter. Private Capital Group LLC lifted its position in shares of ConocoPhillips by 6.4% in the third quarter. Private Capital Group LLC now owns 3,374 shares of the energy producer’s stock valued at $229,000 after buying an additional 202 shares during the last quarter. Mattern Wealth Management LLC lifted its position in shares of ConocoPhillips by 5.4% in the third quarter. Mattern Wealth Management LLC now owns 5,806 shares of the energy producer’s stock valued at $393,000 after buying an additional 300 shares during the last quarter. Finally, Koshinski Asset Management Inc. lifted its position in shares of ConocoPhillips by 33.6% in the third quarter. Koshinski Asset Management Inc. now owns 27,199 shares of the energy producer’s stock valued at $1,843,000 after buying an additional 6,847 shares during the last quarter. 78.44% of the stock is owned by institutional investors.

Shares of COP opened at $74.83 on Thursday. ConocoPhillips has a 52-week low of $38.77 and a 52-week high of $77.98. The business’s fifty day moving average is $71.32 and its 200-day moving average is $62.22. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.83 and a current ratio of 1.93. The firm has a market cap of $98.70 billion, a price-to-earnings ratio of 22.27, a PEG ratio of 0.81 and a beta of 1.62.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Tuesday, November 2nd. The energy producer reported $1.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.24. ConocoPhillips had a return on equity of 11.87% and a net margin of 12.18%. The company had revenue of $11.62 billion for the quarter, compared to analyst estimates of $11.34 billion. During the same quarter last year, the company posted ($0.31) EPS. As a group, research analysts forecast that ConocoPhillips will post 5.92 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 1st. Investors of record on Thursday, October 28th will be issued a dividend of $0.46 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, October 27th. This represents a $1.84 annualized dividend and a dividend yield of 2.46%. ConocoPhillips’s dividend payout ratio (DPR) is 54.76%.

In related news, EVP Nicholas G. Olds sold 9,200 shares of the firm’s stock in a transaction on Thursday, November 4th. The stock was sold at an average price of $74.64, for a total transaction of $686,688.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.08% of the company’s stock.

COP has been the subject of a number of recent analyst reports. Truist Securities raised their price objective on ConocoPhillips from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, October 7th. KeyCorp increased their target price on ConocoPhillips from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Thursday, October 14th. Truist increased their target price on ConocoPhillips from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, October 7th. Raymond James increased their target price on ConocoPhillips from $90.00 to $100.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 26th. Finally, Morgan Stanley increased their target price on ConocoPhillips from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, November 19th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $78.79.

ConocoPhillips Profile

ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; Asia Pacific; and Other International.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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